When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Chapter 47 - Uniform Limited Partnership Act (2001)
Subchapter 5 - Contributions and Distributions
§ 4-47-501. Form of contribution
§ 4-47-502. Liability for contribution
§ 4-47-503. Sharing of distributions
§ 4-47-504. Interim distributions
§ 4-47-505. No distribution on account of dissociation
§ 4-47-506. Distribution in kind
§ 4-47-507. Right to distribution